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Friday newspaper round-up: Apple, Amazon, energy bills

(Sharecast News) - People from working-class backgrounds employed in professional careers earn £6,000 less compared to those from other backgrounds in the same jobs, findings from the Social Mobility Foundation show, underscoring the UK's "shameful" class pay gap. Professionals from poorer upbringings face an average salary of £45,437 - 12% lower than the £51,728 for people from more affluent origins - in research based on quarterly Labour Force Surveys from 2014 to 2022. - Guardian Apple plans to adopt a messaging standard that will allow for a smoother texting experience between iPhones and Android devices, long a point of contention with rival Google. For years, Apple has refused to make its products play nice with devices not designed under its roof, a dynamic exemplified in the green background that is the hallmark of iPhone-to-Android chats. - Guardian

Amazon will start selling cars online from next year, the retail giant has announced. Customers in the United States will be able to choose, customise and buy a vehicle and schedule delivery through a local dealer. Marty Mallick, Amazon's vice-president, said the move was aimed at "changing the ease with which customers can buy vehicles online". - Telegraph

Business leaders and trade bodies from across the UK have called on the chancellor to provide a permanent tax break for investment in next week's autumn statement. In a letter to Jeremy Hunt, almost 100 chief executives and directors of companies including Siemens, Nissan and Astrazeneca urged the government to announce a full expensing regime for companies beyond the current three years, which they say would have a "transformational impact on business investment and growth". - The Times

Energy bills will rise by 5 per cent or almost £100 a year from January after the Israel-Hamas war and industrial action in Australia pushed up gas prices, leading analysts have warned. A household with typical consumption will pay an average of £1,931 a year under the energy price cap from January 1, up from £1,834 at present, according to final forecasts from the consultancy Cornwall Insight. That increase will reverse most of the drop in prices in October when Ofgem last updated the level of the cap, which limits gas and electricity tariffs for most households in Britain. - The Times

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Monday newspaper round-up: Service charge, BP, Heathrow, Elon Musk
(Sharecast News) - An increasingly complex tax system is burdening the government and businesses with hundreds of millions of pounds more in administration costs, Whitehall's spending watchdog has warned. The report by the National Audit Office (NAO) also said "poor levels of service" meant some taxpayers and their representatives were "finding it more difficult to deal with their tax matters and are losing trust in HM Revenue & Customs [HMRC]". - Guardian
Sunday newspaper round-up: Etihad float, Shein, Thames Water
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Friday newspaper round-up: Gambling sector, FOS, Amazon
(Sharecast News) - The gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an "unprecedented" blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands. Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission for £200m in damages over its handling of the lottery licence award process. - Guardian
Thursday newspaper round-up: CMA, Riverford, Lloyds, Arm Holdings
(Sharecast News) - The appointment of the former boss of Amazon UK to lead the competition watchdog poses a threat to its independence and pledge to hold big tech to account, according to a group including tech companies and the former business secretary Vince Cable. The group - which includes the News Media Association, the Firefox developer Mozilla, the consumer group Which? and the Future of Technology Institute - has written to the chancellor, Rachel Reeves, to raise concerns about the appointment of Doug Gurr as the interim chair of the Competition and Markets Authority (CMA). - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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